Global Vessel Retrofit Market Growth (Status and Outlook) 2025-2031

The global Vessel Retrofit market size is predicted to grow from US$ 5365 million in 2025 to US$ 6888 million in 2031; it is expected to grow at a CAGR of 4.3% from 2025 to 2031.

Ship retrofitting is the process of upgrading or modifying an existing vessel with new technology, equipment or systems to improve fuel efficiency, reduce emissions, increase performance or comply with changing environmental regulations.

United States market for Vessel Retrofit is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

China market for Vessel Retrofit is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Europe market for Vessel Retrofit is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Global key Vessel Retrofit players cover MITSUBISHI HEAVY INDUSTRIES, LTD., ALFA LAVAL, Kongsberg Maritime, MAN Energy Solutions, ABB Group, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.

LPI (LP Information)' newest research report, the “Vessel Retrofit Industry Forecast” looks at past sales and reviews total world Vessel Retrofit sales in 2024, providing a comprehensive analysis by region and market sector of projected Vessel Retrofit sales for 2025 through 2031. With Vessel Retrofit sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vessel Retrofit industry.

This Insight Report provides a comprehensive analysis of the global Vessel Retrofit landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Vessel Retrofit portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vessel Retrofit market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vessel Retrofit and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vessel Retrofit.

This report presents a comprehensive overview, market shares, and growth opportunities of Vessel Retrofit market by product type, application, key players and key regions and countries.

Segmentation by Type:
Alternative Fuel Retrofits
Energy Efficiency Retrofits
Emission Control Retrofits
Other

Segmentation by Application:
Commercial Cargo Ships
Passenger Ships
Specialized Vessels

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
MITSUBISHI HEAVY INDUSTRIES, LTD.
ALFA LAVAL
Kongsberg Maritime
MAN Energy Solutions
ABB Group
Wärtsilä
HD Hyundai Marine Solutions Co., Ltd.
YANMAR HOLDINGS Co., Ltd
DNV
Seatrium

Please note: The report will take approximately 2 business days to prepare and deliver.